Barclays Has Lowered Expectations for Alkami Technology (NASDAQ:ALKT) Stock Price

Key Points

• Barclays cut Alkami Technology’s price target from $21 to $15 while maintaining an “equal weight” rating, implying about 5.9% upside from the prior close.
• Analyst sentiment is mixed: MarketBeat reports an overall “Hold” rating and an average price target of $20.80, while JPMorgan downgraded the stock to “underweight” with a $14 target.
• Alkami shares fell 0.9% to $14.16, near their 52-week low of $13.20. The company’s latest quarter included an EPS miss despite revenue of $129.84 million, up 15.8% year over year.

Alkami Technology (NASDAQ:ALKT - Get Free Report) had its price target lowered by equities research analysts at Barclays from $21.00 to $15.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Barclays's price target suggests a potential upside of 5.89% from the stock's previous close.

A number of other equities analysts have also commented on the stock. Citigroup reiterated a "market outperform" rating on shares of Alkami Technology in a report on Thursday, September 24th. Needham & Company LLC raised their target price on Alkami Technology from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Monday, August 24th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Alkami Technology in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. cut Alkami Technology from an "overweight" rating to an "underweight" rating and cut their price target for the stock from $24.00 to $14.00 in a research note on Thursday, September 24th. Finally, Citizens Jmp reiterated a "market outperform" rating and issued a $24.00 price target on shares of Alkami Technology in a research note on Thursday, September 24th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $20.80.

Alkami Technology Stock Down 0.9%

Alkami Technology stock traded down $0.12 during midday trading on Monday, hitting $14.16. 625,441 shares of the company were exchanged, compared to its average volume of 1,803,539. The company's fifty day moving average price is $18.21 and its 200-day moving average price is $17.28. The company has a market cap of $1.51 billion, a PE ratio of -33.64 and a beta of 0.60. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.13 and a quick ratio of 2.13. Alkami Technology has a fifty-two week low of $13.20 and a fifty-two week high of $24.47.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.23). The firm had revenue of $129.84 million during the quarter, compared to analyst estimates of $128.70 million. Alkami Technology had a negative net margin of 9.21% and a negative return on equity of 7.68%. The firm's revenue was up 15.8% compared to the same quarter last year. During the same period last year, the business earned ($0.13) EPS. On average, research analysts predict that Alkami Technology will post 0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Alkami Technology

Institutional investors have recently modified their holdings of the stock. JANA Partners Management LP boosted its holdings in shares of Alkami Technology by 24.2% in the second quarter. JANA Partners Management LP now owns 6,747,707 shares of the company's stock worth $122,268,000 after buying an additional 1,316,319 shares during the period. North Reef Capital Management LP raised its holdings in shares of Alkami Technology by 264.3% during the first quarter. North Reef Capital Management LP now owns 7,650,000 shares of the company's stock valued at $119,876,000 after acquiring an additional 5,550,000 shares during the period. Bamco Inc. NY grew its position in Alkami Technology by 24.6% during the 4th quarter. Bamco Inc. NY now owns 2,983,065 shares of the company's stock worth $68,819,000 after purchasing an additional 588,033 shares in the last quarter. Janus Henderson Group PLC raised its stake in Alkami Technology by 20.2% during the 1st quarter. Janus Henderson Group PLC now owns 3,855,334 shares of the company's stock valued at $60,413,000 after purchasing an additional 646,898 shares during the period. Finally, Irenic Capital Management LP acquired a new stake in Alkami Technology during the 4th quarter valued at $48,596,000. Institutional investors and hedge funds own 54.97% of the company's stock.

About Alkami Technology

Alkami Technology, Inc is a financial technology company that provides cloud-based digital banking solutions to banks and credit unions. Its platform is designed to help financial institutions deliver online and mobile banking services while managing customer engagement, account access and daily banking activities through digital channels.

The company's products and services include digital account opening, consumer and business banking capabilities, payments, card management, money movement, financial wellness tools, data and analytics, marketing and customer relationship management.

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